Hummingbird Resources PLC Result of Open Offer and Director Dealing (5049S)
March 10 2023 - 2:00AM
UK Regulatory
TIDMHUM
RNS Number : 5049S
Hummingbird Resources PLC
10 March 2023
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
10 March 2023
Hummingbird Resources pl c
("Hummingbird" or the "Company")
Result of Open Offer and Director Dealing
On 22 February 2023, Hummingbird (AIM: HUM) provided a Strategic
Investment and Placement Update and Notice of General Meeting,
highlighting that the Company would be providing shareholders in
the Company with the opportunity to subscribe for new Ordinary
Shares at the same price as CIG SA ("CIG") (the "CIG Investment")
of US$15 million and certain existing institutional shareholders
("the Subscription") of c.US$1.4 million through an open offer to
raise up to an additional c.US$2.4 million (the "Open Offer").
The Company announces the closing of the Open Offer, and that it
has received valid applications, including those received under the
Excess Application Facility, in respect of a total of 7,920,997 new
Ordinary Shares, totalling c.GBP617,046 (c.US$734,579). Qualifying
Shareholders who have validly applied for Open Offer Shares
pursuant to their Basic and Excess Shares Entitlement, will receive
their application in full.
The issue of the CIG Second Tranche Shares, the Subscription
Shares and the Open Offer Shares are conditional on the passing of
Resolutions at the General Meeting to be held on 13 March 2023. The
Company will announce the result of the General Meeting, and an
updated total voting rights figure, after it has concluded.
Should the Resolutions be passed at the General Meeting, the sum
of the CIG Investment, the Subscription and the Open Offer
(together the "Placement"), would result in total gross proceeds
for the Company of c.US$17.1 million .
Further, the Company announces that Thomas Hill, Finance
Director of the Company, has participated in the transfer of 23,933
Ordinary Shares from his spouse's broking account to his broking
account and then to his ISA (the "Transfer") and has separately
applied for 83,339 Open Offer Shares.
Following the Transfer, and on the basis that the Resolutions
are passed at the General Meeting in relation to the Open Offer,
Thomas Hill will be beneficially interested in, in aggregate, of
491,574 Ordinary Shares.
Unless otherwise defined, capitalised terms have the same
meaning as per the Company's circular dated 22 February 2023.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Thomas Hill
-------------------------------- ----------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position/status Finance Director
-------------------------------- ----------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Hummingbird Resources Plc
-------------------------------- ----------------------------------------
b) LEI 213800PBYMQ6Z2D7UZ96
-------------------------------- ----------------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv)each place where transactions have
been conducted
--------------------------------------------------------------------------
a) Description of the Financial Ordinary Shares of 1 penny each
instrument, type of instrument
-------------------------------- ----------------------------------------
Identification code GB00B60BWY28
-------------------------------- ----------------------------------------
b) Nature of the Transaction Transfer of 23,933 Ordinary Shares
from his spouse's broking account
to his broking account, and subsequent
sale and re-purchase into his ISA
of the same number of Ordinary Shares
-------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
n/a (as a transfer) 23,933
----------
7.00 pence sale 23,933
----------
7.125 pence purchase 23,933
----------
-------------------------------- ----------------------------------------
d) Aggregated information N/A
Aggregated volume Price
-------------------------------- ----------------------------------------
e) Date of the transaction 08/03/2023
-------------------------------- ----------------------------------------
f) Place of the transaction London
-------------------------------- ----------------------------------------
**ENDS**
Notes to Editors:
Hummingbird Resources plc (AIM: HUM) is a leading multi-asset,
multi-jurisdiction gold production, development and exploration
Company, member of the World Gold Council and founding member of
Single Mine Origin (www.singlemineorigin.com). The Company
currently has two core gold projects, the operational Yanfolila
Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which
will more than double current gold production when production,
scheduled for first gold pour end of Q2 2023. Further, the Company
has a controlling interest in the Dugbe Gold Project in Liberia
that is being developed by Pasofino Gold Limited through an earn-in
agreement. The final feasibility results on Dugbe showcase 2.76Moz
in Reserves and strong economics such as a 3.5-year capex payback
period once in production, and a 14-year life of mine at a low AISC
profile. Our vision is to continue to grow our asset base,
producing profitable ounces, while central to all we do being our
Environmental, Social & Governance ("ESG") policies and
practices.
For further information, please visit hummingbirdresources.co.uk or contact:
Daniel Betts, Hummingbird Resources Tel: +44 (0) 20 7409
CEO plc 6660
Thomas Hill,
FD
Edward Montgomery,
CD
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer Nominated Adviser 3494
-------------------------- ----------------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523
Gordon Hamilton Broker 8000
-------------------------- ----------------------------
Bobby Morse Buchanan Tel: +44 (0) 20 7466
Oonagh Reidy Financial PR/IR 5000
George Cleary Email: HUM@buchanan.uk.com
-------------------------- ----------------------------
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